Telefonica SA (NYSE:TEF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Telefonica should benefit from the launch of video services in several Latin-American markets, widespread adoption of broadband and data services, pricing revision, network enhancement and strategic collaborations, continued focus on organic growth and portfolio optimization. Telefonica is also capitalizing on the opportunities in the digital world. However, the company continues to face stiff competition in the domestic and Latin-American markets. Notably, in Latin America, Telefonica competes with large global telecom operators like AT&T and America Movil. The fallout of the company’s IPO plans and downgradation by Moody's Investors Service was a major setback, apart from the company’s debt laden balance sheet. Over the past three months, shares of Telefonica declined 2.2% as against the industry's loss of 0.8%.”

TEF has been the subject of a number of other reports. ValuEngine lowered Telefonica SA from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. reissued a “buy” rating on shares of Telefonica SA in a report on Monday, September 4th. BidaskClub upgraded Telefonica SA from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co downgraded Telefonica SA from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 5th. Finally, Berenberg Bank upgraded Telefonica SA from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Telefonica SA has a consensus rating of “Hold” and an average price target of $11.00.

Shares of Telefonica SA (TEF) traded down 0.10% on Wednesday, reaching $10.50. The company had a trading volume of 555,045 shares. The stock has a 50-day moving average price of $10.73 and a 200-day moving average price of $10.93. Telefonica SA has a 12 month low of $8.15 and a 12 month high of $11.64. The stock has a market cap of $53.79 billion, a PE ratio of 17.68 and a beta of 1.31.

Telefonica SA (NYSE:TEF) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $14.24 billion for the quarter, compared to the consensus estimate of $15.01 billion. Telefonica SA had a return on equity of 29.02% and a net margin of 5.18%. Analysts predict that Telefonica SA will post $0.89 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Liberty Mutual Group Asset Management Inc. purchased a new position in Telefonica SA in the first quarter valued at approximately $434,000. Morgan Stanley lifted its stake in Telefonica SA by 18.1% in the first quarter. Morgan Stanley now owns 774,342 shares of the utilities provider’s stock valued at $8,666,000 after purchasing an additional 118,762 shares during the last quarter. HPM Partners LLC lifted its stake in Telefonica SA by 39.1% in the second quarter. HPM Partners LLC now owns 64,484 shares of the utilities provider’s stock valued at $651,000 after purchasing an additional 18,135 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in Telefonica SA by 10.5% in the second quarter. Wetherby Asset Management Inc. now owns 34,830 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 3,319 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its stake in Telefonica SA by 3.0% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 119,081 shares of the utilities provider’s stock valued at $1,237,000 after purchasing an additional 3,515 shares during the last quarter. Institutional investors and hedge funds own 0.93% of the company’s stock.

About Telefonica SA

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).

Analyst Recommendations for Telefonica SA (NYSE:TEF)

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